Cyril Amarchand Mangaldas Advised Magma General Insurance Limited
Cyril Amarchand Mangaldas advised Magma General Insurance Limited on the proposed transfer of equity shares to Patanjali Ayurved Limited and other buyers, subject to regulatory approvals.;
Cyril Amarchand Mangaldas Advised Magma General Insurance Limited
Cyril Amarchand Mangaldas advised Magma General Insurance Limited (erstwhile Magma HDI General Insurance Company Limited) (“Client” or “Company”) in relation to the proposed transfer of its equity shares by Sanoti Properties LLP, Celica Developers Private Limited, Jaguar Advisory Services Private Limited, Mr. Keki Mistry, Atul DP Family Trust, Shahi Sterling Exports Private Limited, QRG Investments and Holdings Limited, and other employee shareholders (collectively, the “Sellers”) to Patanjali Ayurved Limited, S.R. Foundation, RITI Foundation, RR Foundation, Suruchi Foundation, and Swati Foundation (collectively, the “Buyers”).
The proposed transaction is subject to regulatory approvals from the Insurance Regulatory and Development Authority of India (IRDAI), Competition Commission of India (CCI), Debenture Holders of the Company, and other relevant authorities. Cyril Amarchand Mangaldas advised the Company on the transaction and reviewed the Share Purchase Agreement (SPA) and related transaction documents.
The team was led by Indranath Bishnu (Partner), supported by Pranjita Barman (Partner), Subhalaxmi Hota (Associate), and Pooja V (Associate).
